GoldON Provides Overview of Bruce Lake Property in Ontario’s Red Lake Gold District Property adjoins BTU Metals’ Dixie Halo property where drilling is in progress on potentially a new VMS system called the TNT Target Cu-Au-Ag discovery
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
FOR IMMEDIATE RELEASE
GoldON Provides Overview of Bruce Lake Property in
Ontario’s Red Lake Gold District
Property adjoins BTU Metals’ Dixie Halo property where drilling is in progress on
potentially a new VMS system called the TNT Target Cu-Au-Ag discovery
VICTORIA, BC, December 17, 2019 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or
the “Company”) is pleased to provide an overview of its Bruce Lake property (the “Property”) in
the Red Lake Mining District.
GoldON optioned the original 1,640 hectare (80 claim cells) pro perty earlier this year (see news
release of March 28, 2019) and increased the land package to 3,103 hectares this summer with the
staking of an additional 72 claim cells. (see regional claimholder map Figure 1).
The Bruce Lake Property adjoins BTU Metals’ (“BTU”) Dixie Halo property, where they are
actively drilling a potentially new volcanogenic massive sulphi de (VMS) system called the TNT
Target Cu-Au-Ag discovery (see BTU’s news release of December 16, 2019 and Figure 2 for
proximity of TNT Target to GoldON’s Property boundary). The Property is also approximately 11
kilometres (km) southeast of the multiple high-grade gold disco veries Great Bear Resources has
made to date on its Dixie property, and shares its southern bou ndary with Great Bear’s Pakwash
property. Ontario provincial Highway 105 runs through the Property providing excellent access to
and from infrastructure with the town of Red Lake located approximately 36 km northwest.
Geologically, the Property appears to host the same lithologies encountered in the drill program
ongoing by BTU. Rock types intersected in their drilling to date include highly altered and bleached
basalt, rhyodacite tuffs and flow s as well as felsic and mafic intrusive bodies (see BTU’s news
release of December 16, 2019). According to the Ontario Geologi cal Survey regional map in this
area, similar rock types can be expected to be beneath the extensive overburden cover on the Bruce
Lake Property.
“While we originally acquired the Bruce Lake Property for its potential to host gold mineralization,
work by BTU may cause us to reevaluate our exploration plans fo r 2020 and focus on possible
VMS type target areas” said Mike Romanik, president of GoldON. “We wish BTU every success
with their current drill progr am and look forward to them repor ting additional assay results,
particularly from the recent holes drilled closer to our property boundary.”
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
Michael Kilbourne, P.Geo., an independent Qualified Person as defined in National Instrument 43-
101, has reviewed and approved the contents of this news release on behalf of the Company.
About GoldON Resources Ltd.
GoldON is an exploration compan y focused on discovery-stage pro perties located in the prolific
gold mining belts of northwestern Ontario, Canada. Active projects include: the West Madsen gold
property in the Red Lake Camp, wh ere Phase II field exploration r e s u l t s a r e p e n d i n g ; a n d o u r
flagship Slate Falls project in the Patricia Mining Division, w here 18 Au-Ag mineralized zones
have been identified over the 13-km breadth of the property and d r i l l c o r e s a m p l e r e s u l t s a r e
pending from our maiden nine-hol e drill program. GoldON has 15, 152,282 shares issued and is
fully funded to complete its current exploration programs.
For additional information: please visit our website at https://goldonresources.com, you can
download our latest presentation by clicking here and you can follow us on Twitter at
https://twitter.com/GoldONResources.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
Direct line: (204) 724-0613
Email: [email protected]
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